Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Current Year Previous Year Current assets: Cash $640,000 $866,000 Accounts receivable 567,000 407,000 Inventory 350,000 344,000 Total current assets $1,557,000 $1,617,000 Current liabilities: Current portion of long-term debt $114,000 $101,000Accounts payable 227,000 201,000 Accrued and other current liabilities 369,000 368,000 Total current liabilities $710,000 $670,000 Determine the quick ratio for December 31 of both years.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Current Year Previous Year Current assets: ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Zachary holds 15 stocks in his portfolio. The portfolio's return last year was 11%, but one stock, RJH, doubled in value. What should Zachary do if he wants to be as diversified as he was at the beginning of the year?
Answers (1)
By comparing opportunity costs and gains from trade for two parties each making the same two goods, one can determine the exact exchange ratio at which the parties should agree to trade. Click or tap "True" or "Folse" to answer the question.
Answers (1)
Discuss the advantages of PES policy compared to other instruments such as tax, subsidy and direct control.
Answers (1)
Wims, Inc., has current assets of $4,900, net fixed assets of $27,300, current liabilities of $4,100, and long-term debt of $10,200. a. What is the value of the shareholders' equity account for this firm? b. How much is net working capital?
Answers (1)
At which stage of relational de-escalation are partners most likely to discuss the definition of their relationship, question its future, and assess their levels of satisfaction or dissatisfaction with the relationship?
Answers (1)
New Questions in Business
Q 1.2: the question "how much of our annual budget should we spend to advertise our new product line?" would most likely be asked by a
Answers (1)
If you wanted to find and display a collection of data from a table on a regular weekly basis, what method would you be most likely to use? A. A form B. A field C. A query D. A report
Answers (1)
The equation represents Jordan's overtime pay structure. Based on this equation, what is Jordan's regular hourly pay?
Answers (2)
A concurrent condition occurs when each party's performance is conditioned on the performance of the other.
Answers (1)
Transactional leadership encompasses all but one of the following. Which one? A. Goal settingB. Social interactionC. Monitoring progress toward goal achievementD. Giving feedbackE. Administering discipline
Answers (1)